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Justin Sun’s empire may be on the verge of collapse

A close review of Justin Sun’s wallets and entities reveals assets being quickly moved with inadequate disclosure.

Tether’s new asset currently backed by 0kg of gold

Tether has launched Alloy a new over-collateralized stablecoin tethered to the US dollar and backed by Tether Gold.

This dramatic fall in the market cap of TrueUSD follows Binance’s delisting of several TrueUSD pairs on March 15.

Newly-launched ‘synthetic dollar’ Ethena says it’s banking on using CEX liquidity rather than the less popular decentralized exchanges.

TrueUSD has de-pegged across both centralized exchanges and DeFi after switching accounting firms for attestations.